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Required information [The following information applies to the questions displayed below.) On July 1, TruData Company issues 10,000 shares of its common stock with a
Required information [The following information applies to the questions displayed below.) On July 1, TruData Company issues 10,000 shares of its common stock with a $5 par value and a $40 fair value in exchange for all of Webstat Company's outstanding voting shares. Webstat's precombination book and fair values are shown below along with book values for TruData's accounts. Webstat Fair Values $ Revenues (1/1 to 7/1) Expenses (1/1 to 7/1) Retained earnings, 1/1 Cash and receivables Inventory Patented technology (net) Land Buildings and equipment (net) Liabilities Common stock Additional paid-in capital TruData Book Values $ (250,000) 170,000 (130,000) 140,000 190,000 230,000 400,000 100,000 (540,000) (300,000) (10,000) Webstat Book Values $ (130,000) 80,000 (150,000) 60,000 145,000 180,000 200,000 75,000 (360,000) (70,000) (30,000) 60,000 175,000 200,000 225,000 75,000 (350,000) On its acquisition-date consolidated balance sheet, what amount should TruData report as goodwill? Multiple Choice o . o $15,000. o S35,000. o $100,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as patented technology (net)? Multiple Choice $200,000. S230,000. $410,000. $430,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as common stock? Multiple Choice $70,000. $300,000 $350,000 $370,000. On its acquisition-date consolidated balance sheet, what amount should TruData report as retained earnings as of July 1? o $130,000. o $210,000. o $260,000. o $510,000
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